The BSE benchmark Sensex was trading 259.60 points or 1% higher at 26,506.39 points, while the NSE's Nifty was trading 74.25 points or 0.95% higher at 7,916.95 points at 12.16 pm IST.
According to a Bloomberg report, the minutes from the Federal Open Market Committees September meeting released on Wednesday showed that US Fed officials remain concerned that a deterioration in global growth and a stronger dollar poses risks to the US economy.
Among sectoral indices, the BSE Realty (2.07%), BSE Capital Goods (1.55%) and BSE Bankex (1.48%) were the major gainers. Among Sensex stocks, Hindalco (4.87%), Bhel (4.8%) and Cipla (2.41%) were the top gainers.
Most Asian indices were trading higher. The Taiwan Taiex (0.13%), Jakarta Composite (0.92%), Straits Times (0.70%) and Shanghai Composite (0.12%) were trading in the green.